Investment Research report

Envirostar Inc.

Previous Item
All Reports
Envirostar Inc.
Taking Out the Dirty Laundry
Download Report
Envirostar Inc.
Download Report 2
Envirostar Inc.
Download Report 3
Envirostar Inc.
Download Report 4
Envirostar Inc.
Download Report 5
Envirostar Inc.
Download Report 6
Envirostar Inc.
Download Report 7

Research Overview

S&P 500
Oct 3, 2017

After conducting a forensic financial and accounting review, Spruce Point believes Envirostar Inc (NYSE/MKT: EVI), a commercial and industrial laundry and dry-cleaning equipment company, is one of the worst and most speculative roll-up stories we have ever seen. Based on our investigation, we estimate a 40% to 80% downside risk.

The report highlights several key concerns with the company, including:

  • We believe EVI’s roll-up strategy is ineffective and is leading to declining financial metrics that put a covenant breach at risk
  • Evidence on how the valuation is completely disconnected from peer valuations and the financial contribution from recent deals
Downloads & More

Research Assets & Releases

Press Releases

Nothing posted currently

Broadcast Coverage

Nothing posted currently

Join The Mailing List

Spruce Point Alerts & Updates

See the other side of the Wall Street hype machine.